Don’t Buy Your First Home Until You’ve Done These 3 Things

Understand Your Real Monthly Cost (Not Just the Mortgage Payment)

Buying your first home is exciting and yes, a little emotional. One minute you’re casually scrolling listings, and the next you’re mentally placing the Christmas tree in a house you haven’t even toured yet. It happens quickly, and that spark is part of what makes the process so special.

And while I love that excitement, years of working with first-time buyers have shown me something reassuring: the best experiences happen when a little intention comes first. The biggest regrets rarely come from waiting, they come from jumping in before expectations are clear and before you’re truly ready. A thoughtful start sets the tone for a confident, feel-good purchase Before you write an offer, there are three things you really need to do. Not skim. Not assume. Actually do.

First, you need to understand your real monthly cost, not just the mortgage payment your lender gives you. That number is important, but it’s only part of the picture. Your true monthly cost includes property taxes (which do increase), homeowners insurance, HOA dues if you have them, utilities that are almost always higher than renting, and ongoing maintenance and repairs. Then there are the bigger future expenses; roofs, furnaces, exterior work.  Work that don’t show up in the pretty listing photos but absolutely show up in real life.

A home that looks affordable on paper can feel very different once a water heater decides to quit on a random Tuesday. Before buying, ask yourself: can I still save money, travel, order takeout without guilt, and handle an $8,000 surprise without spiraling? Buying a home shouldn’t stretch you to your emotional or financial breaking point. It should support your life, not take it over.

Think About Your Current Needs and Your Future Needs

Second, you need to think about your life now and also what might be coming next. This is where I see so many first-time buyers get tripped up. It’s easy to shop for what works today, your current commute, your current space needs, your current routine. But life changes. Jobs shift. Families grow. Priorities evolve. And they often do it faster than you expect.

You don’t need to predict the next 20 years, but you should think beyond the next 12 months. Ask yourself how long you realistically plan to stay, whether the home can adapt if your life changes in the next 2-3 years, and if it gives you options instead of limitations. Your first home doesn’t have to be your forever home, but it should make sense for both who you are today and who you might be a few years from now. Buying intentionally always beats buying quickly.

Know What’s Fixable and What’s Fundamental

Third, learn the difference between what’s fixable and what’s fundamental. This one surprises a lot of buyers. Your first home will not check every box and that’s okay. Paint colors, light fixtures, landscaping, and cosmetic updates are easy. Bad layout, poor location, lack of natural light, or structural issues are not. No amount of Pinterest boards can fix those. This is also why many strong first-time purchases aren’t the most “finished” homes. Learning how to spot High-ROI Home improvements  can help you focus on long-term value rather than short-term aesthetics.

I see buyers pass on great homes because of outdated finishes, and then fall in love with the wrong home because it “looks finished.” Your first home isn’t meant to be perfect. It’s meant to be a foundation, something that positions you well for the future. When you understand the difference between what can be changed and what can’t, you buy smarter and with far less stress.

Final Thoughts

Buying your first home is a major milestone, but it shouldn’t be rushed or overly romanticized (even though both are very tempting). It also doesn’t need to be feared. The sooner you thoughtfully enter the market, the sooner you give yourself the opportunity to start building another piece of your long-term wealth. When you understand your true costs, consider both your current lifestyle and future needs, and stay grounded in what actually matters over time, homeownership becomes empowering instead of overwhelming. That’s how you buy well the first time.

If you’re not sure where to start, I have a Home Search Form that asks thoughtful, practical questions to help outline what you really need, not just what looks good online. It’s designed to help you think through what is important to you and set your search up for success from the beginning.

If you want access to it or want help thinking through your first purchase, I’m always happy to help. Click Here!

RaeAnne Marcum REAL BROKER: Team Lead 📍 Seattle | Bellevue | Kirkland 509.521.5323 raeannemarcum.com